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The BOE launched a call for applications on the UK’s Digital Marketplace on Dec. 9.
The proof-of-concept wallet just needed basic features including a registration procedure, a mechanism to change data, and a way to show balances, transactions, and alerts.
The project will create an iOS and Android app, a wallet website, a merchant website, and the back-end infrastructure to service the website and applications and store user data and transaction history.
The BOE wants to “sharpen functional criteria for both the Bank and private sector” and make the CBDC output “more concrete for internal and external stakeholders”
The BOE will examine five vendors and spend $244,500 on a five-month proof-of-concept study. No applications were submitted before publication.